REAL ESTATE INVESTMENT
Cadre | October 14, 2022
Cadre, the leading technology-driven real estate investment platform, has launched its latest investment offering, the Cadre Horizon Fund. The Cadre Horizon Fund builds on Cadre’s exceptional track record (~28% realized net IRR) and will enable an even wider base of investors to access a diversified portfolio of premier real estate across the country. The Horizon Fund also offers investors the opportunity to invest in an asset class that serves as a hedge against inflation while providing stable yield and income at a time of significant broader macro volatility.
Powered by Cadre’s high-tech/high-touch approach, the Cadre Horizon Fund features a high quality portfolio of income-oriented real estate investments in the country’s strongest markets. The investment solution is oriented towards individuals looking to invest alongside an experienced manager and diversify outside of stocks and bonds through defensive, recession-resilient sectors such as multifamily, light warehouse, and leisure hotels. The Horizon Fund will ultimately be an SEC-registered REIT in order to provide investors with unique tax benefits that real estate investing offers, including tax-advantaged distributions.
According to a recent survey by Cadre and Underground Research, 73% of mass affluent investors are interested in commercial real estate and 68% want to diversify their portfolios. As more individuals grapple with extraordinarily high inflation and global instability, the Cadre Horizon Fund aims to help investors hedge public headwinds in private real estate markets. Over the last 20 years, private real estate has delivered returns comparable to equities with ~66% less volatility. Meanwhile private real estate has delivered average returns ~6.6% higher than the U.S. Consumer Price Index, a central indicator of rising inflation.
“We have long intended to release an income-oriented product and are proud to open the Horizon Fund at an important time when more investors need the option to invest in products that provide yield, appreciation, and downside protection private real estate offers, Our individual deal investments and the Cadre Direct Access Fund continue to demonstrate the wealth-building power of commercial real estate through compelling returns. The Horizon Fund represents our conviction in CRE’s ability to generate income – a feature we are excited to share with our investors.”
- Dan Rosenbloom, Cadre’s Head of Investments
The Horizon Fund is another step in Cadre’s rapid evolution and growth. The firm has methodically scaled and delivered exceptional results since its founding. Cadre has invested in assets eclipsing $5 billion in value across 25 markets in the U.S., while generating an average ~28% realized net IRR and 1.8x realized net equity multiple to hundreds of clients around the world. Cadre’s experienced investments team brings rigorous, institutional diligence, and proactive asset management – paired with advanced proprietary technology and data analytics – leading to more than $460mm in distributions to investors. Following the close of The Cadre Direct Access Fund earlier this year, the fund generated impressive realized returns to investors with the first two property sales in the fund achieving 40.2% and 67.3% realized net IRRs and doubling investors money in less than two years.
I founded Cadre to expand access to premier real estate investments. With a tax-advantaged structure, lower investment minimums, and a strategy focused on delivering yield with lower volatility, our Fund is positioned to support more investors achieve better financial futures than ever before, Through the Horizon Fund, we are bringing access to a diversified portfolio of assets in carefully selected sectors such as multifamily and industrial and high-growth geographies. The launch of the fund should prove critical to improving investors' financial futures, while empowering more individuals than ever before to access and learn more about this important sector that can unlock multi-generational wealth, said Ryan Williams, Cadre’s Founder and Executive Chairman.
Accredited investors can begin investing in the Horizon Fund and other opportunities today. Broader access to the Horizon Fund is expected to be made available in 2023.
Cadre is a groundbreaking technology-driven commercial real estate investment platform that offers both institutional and individual investors the opportunity to invest in expertly diligenced real estate assets with lower minimums, low fees, and unprecedented potential for liquidity. Via its data-driven and transparent approach, Cadre opens participation in a historically opaque and illiquid asset class.
Along with its traditional investment offerings, Cadre also provides investors with the ability to seek liquidity through its proprietary secondary market, a unique offering within the industry.
Since Cadre’s founding, Cadre has closed more than $5 billion in real estate transactions across 25 U.S. markets. Cadre has exited thirteen investments with a ~28% realized net IRR and in total has returned approximately $462 million of capital to Cadre investors to date.
REAL ESTATE INVESTMENT,MORTGAGE AND LENDING
Hallmark Home Mortgage | November 07, 2022
Hallmark Home Mortgage, a Fort Wayne, Indiana-based independent residential mortgage lender, has completed the acquisition of a well-established team of mortgage bankers. The move will expand its residential lending services to include Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas; representing a strategic milestone for the organization.
"I am pleased to welcome this talented team of more than 60 mortgage professionals, Hallmark is now positioned to become one of the nation's top 100 residential mortgage lenders. This increased productivity will create new employment opportunities at the corporate headquarters in Fort Wayne."
-Deborah Sturges Chief Executive Officer and Founder at Hallmark Home Mortgage
This is a tremendous opportunity, The team brings a strong lending and scalable presence in their current markets and shares the same passion as Hallmark for delivering a superior customer experience,noted Hallmark Home Mortgage Executive Vice President/Division Manager Mark Etchison.
Marc Wadman will continue to direct the newly acquired team as Senior Vice President/Regional Manager. Hallmark is known for its continued strong leadership and team support within the mortgage industry, It became evident after discussions with the Hallmark executive leadership team that this was the ideal fit for our associates and clients,Wadman added.
With rising inflation and mortgage rates climbing, workforce capacity has had to be adjusted for many mortgage lenders. Hallmark, however, continues to successfully execute against its strategic growth plan by focusing on its Realtors®, referral partners and past clients.
About Hallmark Home Mortgage
Fort Wayne, Indiana-based Hallmark Home Mortgage was founded in 2007 by Deborah Sturges. Driven by her strong passion for providing home finance solutions backed by a tradition of service, the company continues to impact the communities and the employees it serves. Whether a first-time home buyer or experienced homeowner, Hallmark offers the perfect combination of digital technology and human touch to ensure that every customer experience is tailored to fit their individual needs.
REAL ESTATE INVESTMENT, REAL ESTATE ADVICE
Bonaventure | October 21, 2022
Bonaventure, an integrated alternative asset manager focused on the development, construction, and property management of innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions, announced its partnership with Project Destined. Bonaventure’s partnership will support Project Destined and its mission to provide training in financial literacy, entrepreneurship, and real estate to students from underserved communities. Since its founding in 2016, Project Destined has worked with more than 4,500 participants in 35 cities across the U.S., the United Kingdom and Europe. Bonaventure welcomes its Fall 2022 mentee group from Georgetown University, Howard University, George Mason University, Virginia State University and George Washington University.
“We’re thrilled to be part of the extraordinary work Project Destined is doing to invest in the future of our industry’s leaders and innovators, We look forward to equipping these young students with the insights and skills necessary to understand what goes into forming communities, and are excited to show them a deeper look into our industry in hopes of inspiring their own personal and professional goals.”
-Dwight Dunton, founder and CEO of Bonaventure
Project Destined leverages a work-based learning approach where students join executives to evaluate actual commercial real estate deals in their community and compete in a pitch competition to industry leaders to earn scholarships. Bonaventure mentors will prepare, engage, and guide students one-on-one to help them develop a range of fundamentals including financial, technical, presentation, and leadership skills designed to aid them in obtaining internships, certifications, and full-time employment, launching their careers in commercial real estate.
We are excited to partner with Bonaventure to grow our work in Washington, DC, The Bonaventure team has invested incredible resources to provide this group of students with mentoring, exposure and networking opportunities. We are proud to partner to prepare the students for potential careers in real estate,said Cedric Bobo, Co-Founder of Project Destined.
Headquartered in Alexandria, Virginia Bonaventure is an integrated alternative asset management company specializing in multifamily design, development, construction, asset management and property management with over 6,000 apartment units across 29 communities primarily in the Mid-Atlantic and Southeastern regions of the United States. Since its founding in 1999 by Dwight Dunton, Bonaventure has become one of the top 15 most experienced HUD developers in the nation and has completed $500 million in HUD loans and over $2.25 billion in transactions. With its focus on building enduring value through ingenuity, Bonaventure boasts a full suite of investment capabilities.
About Project Destined
Project Destined is a leading social impact platform that provides training in financial literacy, entrepreneurship, and real estate. Project Destined partners with corporations, schools, and non-profits to deliver training using its proprietary e-learning platform and love courses. Project Destined leverages a work-based learning approach where students work with executives to evaluate live deals in their community and present them in a pitch competition to industry leaders. Scholars emerge with the skills, confidence, experiences, and networks that prepare them to secure a strong first job and become stakeholders in their community.